Mining company Sherritt International increases dividend to 4.3 cents per share

TORONTO – Sherritt International Corp. (TSX:S) said Tuesday it has increased its quarterly dividend to 4.3 cents per share, up from 3.8 cents per share.

The new dividend will be paid April 12 to shareholders of record as of the close of business on March 29, 2013.

Based on the company’s share price Tuesday, the stock will have an annual yield of about three per cent.

Sherritt produces nickel from operations in Canada, Cuba, Indonesia and Madagascar, an island off the east coast of Africa.

The company is also the largest producer of thermal coal in Canada and the largest independent energy producer in Cuba, with extensive oil and power operations across the island.

Shares in the company closed up 13 cents at $5.70 on the Toronto Stock Exchange.